Established in 1978, in 1979 the company presented its first studio model – the VSS, and in the following years – dozens of other concept cars and car bodies, which then went into series production.

Some of the most memorable concept models include Grigua, Lampo, Vuscia, One. IDEA Institute unveiled ERA speedster at Geneva Motor Show 2009, Sofia Concept - in 2010. The last concept car was E-Legante unveiled in 2016. 

The company was liquidated in 2019.